‘Fiscal Cliff’ Takes Toll on Markets

    A trader rubs his eyes on the floor at the New York Stock Exchange Thursday, Nov. 15, 2012,  in New York. Stock indexes are inching higher in early trading Thursday after U.S. retail giants Wal-Mart and Target turned in mixed earnings reports. (AP Photo/Seth Wenig)

    Seth Wenig / AP Photo

    Don’t panic. The world’s markets will do it for you. Stocks around the world took a tumble last week as fears over whether Washington will compromise on the looming “fiscal cliff” intensified. The Congressional Budget Office has issued stark warnings regarding the combination of tax hikes and cuts to spending, saying that they could drag the U.S. back into a recession if not properly addressed. The Dow Jones industrial average has fallen 7.5 percent since Oct. 5.

    Read it at The Wall Street Journal